Bill > HB278

This bill, titled "Campaign finance disclosure," aims to enhance transparency in political fundraising and spending by amending the Campaign Reporting Act. Key provisions include requiring individuals or entities making "independent expenditures" (spending not coordinated with a campaign) over $1,000 to report these expenditures within 24 hours if they are close to an election or within three days otherwise, detailing the recipient and source of funds. Advertisements funded by expenditures exceeding $3,000 must clearly state who authorized and paid for them, with exceptions for small items like bumper stickers. The bill also updates definitions for terms like "advertisement," "campaign expenditure," and "independent expenditure," and mandates electronic reporting of all campaign finance information. Furthermore, it increases the thresholds for reporting certain contributions and expenditures, modifies registration requirements for political committees, and adjusts penalties for violations. The bill also clarifies rules around anonymous contributions and special event fundraising, and prohibits concealing the true source of funds used for independent expenditures. Finally, it sets new contribution limits for candidates and political committees and requires the Secretary of State to implement rules for these changes by December 31, 2015, with the act taking effect on July 1, 2015.